Press Releases

Good news for family business Seelig+Co Feinblechbau GmbH based in Neresheim: effective 1 January 2022, investors Mr Jochen Weiss and Mr Markus Alexander Konold will acquire the metal construction company’s business, including the some 80 employees, by way of an asset deal. They have founded the company Weiss Metalltechnik GmbH for this purpose. The purchase agreements were already signed at the end of November 2021. Today, the creditors’ assembly approved the takeover by a large majority. The parties have agreed not to disclose the purchase price. Seelig+Co Feinblechbau GmbH has been restructuring under debtor-in-possession proceedings since spring 2020. Mr Michael Pluta, as insolvency monitor, has been overseeing the proceedings in the interests of creditors.

• Debtor-in-possession proceedings supported by PLUTA
• 220 jobs saved

An investor solution has been achieved for cloud service provider scanplus based in Ulm. q.beyond AG, one of Germany’s leading IT service providers, will acquire the business by way of an asset deal. 220 employees will be kept on by the new owner. The purchase agreement has already been signed and notarised. The level of the purchase price, which q.beyond will pay from its liquid funds, will not be revealed. Following submission of all of the necessary approvals, the transaction is expected to be closed by early 2022 at the latest.

On 1 December 2021, the Local Court of Neubrandenburg opened insolvency proceedings for the assets of IPSE GmbH. Attorney Mr Michael Bohnhoff from PLUTA Rechtsanwalts GmbH was appointed insolvency administrator.

In the insolvency proceedings for DEGIA Berlin GmbH (formerly known as DEG Deutsche Energie GmbH), administrator Mr Michael Pluta from PLUTA Rechtsanwalts GmbH will distribute an initial payment of more than 60 million euros to creditors. This corresponds to a dividend of 24.5% and is expected to be paid out before the end of this year.

Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has successfully completed the process to find an investor for DUHA Fertigteilbau GmbH based in Haselünne in the Emsland region. The restructuring expert has achieved a follow-up solution for the company, which specialises in the manufacture of prefabricated concrete elements. Effective 1 December 2021, the business has been sold by way of an asset deal to a company in the Mainka Group headquartered in Lingen.

Having kept the business operational for four months, PLUTA restructuring expert Mr Florian Zistler has succeeded in finding a follow-up solution for AUGENSTEIN Maschinenbau GmbH based in Günzburg. Effective 1 December 2021, DALEX Maschinenbau GmbH has acquired the business with its two sites by way of an asset deal.

Positive news for creditors in the insolvency proceedings for Frenzel GmbH based in Obersulm: insolvency administrator Mr Michael Pluta from PLUTA Rechtsanwalts GmbH has made an initial payment. A high six-digit amount covering approximately 44% of the claims filed has been distributed in this first payment to creditors.

With Grafenquelle GmbH having filed for insolvency, the Local Court of Osterode am Harz ordered provisional insolvency proceedings to be opened for the company’s assets on 4 November 2021. Mr Torsten Gutmann from PLUTA Rechtsanwalts GmbH in Hanover has been appointed provisional administrator. The beverage producer’s business operations have been maintained without restrictions since the application was filed.

roboexpert GmbH & Co. KG from Melle, near Osnabrück, has filed for insolvency. By its decision taken on 1 November 2021, the Local Court of Osnabrück ordered provisional insolvency proceedings and appointed Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH as provisional administrator.

The insolvency creditors have received a 100% dividend in the debtor-in-possession proceedings for Baldwin Technology GmbH. The insolvency proceedings are thereby concluded, with the Local Court of Augsburg having ordered their termination. The management team of the mechanical engineering company based in Friedberg, Bavaria, was supported and advised by PLUTA restructuring experts Mr Philip Konen, Mr Ludwig Stern, Mr Georg Stemshorn and Dr Stephan Laubereau.

Good news for creditors of the insolvent QSSL Industrieservice GmbH from Fellbach, near Stuttgart: PLUTA restructuring expert Mr Ilkin Bananyarli is set to distribute a higher-than-average dividend of around 90 percent.

Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has launched the process to find an investor for DUHA Fertigteilbau GmbH based in Haselünne in the Emsland region. The company specialises in the manufacture of precast concrete elements.

Innovative Personal- und Strukturentwicklungsgesellschaft mbH Neustrelitz (IPSE GmbH), a non-profit organisation whose activities include running the Slawendorf Neustrelitz Slavic heritage site, has filed for insolvency. The Local Court of Neubrandenburg has appointed attorney Mr Michael Bohnhoff from PLUTA Rechtsanwalts GmbH as provisional administrator. The company has had to file for insolvency due to liquidity problems attributable to the coronavirus pandemic and related closure requirements, among other things.

DUHA Fertigteilbau GmbH, a manufacturer of prefabricated building components from Haselünne in the Emsland region, has filed for insolvency. On 7 October 2021, the Local Court of Meppen ordered provisional insolvency proceedings to be opened for the company. Dr Christian Kaufmann from the Oldenburg branch office of PLUTA Rechtsanwalts GmbH has been appointed provisional administrator. The company had to file for insolvency due to liquidity problems associated with quarantine measures mandated following a number of positive COVID-19 cases and the resulting production stoppage, which lasted several weeks.

An investor has been found for iron foundry Eisengießerei Torgelow GmbH. The Silbitz Group, a German foundry group operating on an international scale, will acquire the business by way of an asset deal. The strategic investor intends to maintain the site in the long term and will keep on all employees.

Mr Peter Roeger from PLUTA Rechtsanwalts GmbH has found an investor for the industrial cleaning company MIR Gebäudereinigung und Dienstleistungen GmbH from Schwebheim, near Würzburg. The insolvency administrator has sold the business to a buyer within the family that controls the company as part of an asset deal, effective 1 October 2021. The new owner will keep on all current 88 employees within a newly founded company that is called ‘MIR Gebäudereinigung und Service’; this will take over the business operations as a sole proprietorship.

The Local Court of Bremen has terminated the debtor-in-possession proceedings for the assets of Gesamthafenbetrieb im Lande Bremen GmbH. Accordingly, the restructuring of GHBV (Gesamthafenbetriebsverein im Lande Bremen e.V.), the personnel service provider for the twin ports of Bremen/Bremerhaven, which has begun in December 2020, has been successfully concluded. Back in May, the creditors approved the insolvency plan presented by the then chief restructuring officer Dr Christian Kaufmann from the PLUTA branch office in Bremen with 99.92% of the votes.

The debtor-in-possession proceedings initiated for bakery Bäckerei Brinkhege GmbH & Co. KG in early autumn 2020 are nearing conclusion. The participants at yesterday’s creditors’ assembly unanimously approved the insolvency plan, which has then been confirmed by the local court. This means that only a number of formal steps remain to be completed before the debtor-in-possession proceedings can be terminated.

Insolvency administrator Mr Torsten Gutmann from PLUTA Rechtsanwalts GmbH has fully satisfied the claims of all insolvency creditors of Richpro Internet GmbH. The claims of lower-ranking creditors pursuant to section 39 of the German Insolvency Code will also be fully satisfied, including claims to accrued interest since the insolvency proceedings were opened.

The Local Court of Constance has ordered provisional insolvency administration for the assets of promark automation GmbH & Co. KG and appointed Mr Florian Schiller from PLUTA Rechtsanwalts GmbH as provisional administrator. The mechanical engineering company from Eigeltingen in the Constance district had to file for insolvency due to liquidity problems as a result of declining sales. Business operations will be maintained without restriction.

A large majority of creditors (97.75%) have approved the Krankenhaus Land Hadeln Otterndorf GmbH insolvency plan presented to them. The clinic, based in Otterndorf, can therefore move ahead with the new ownership structure set out in the insolvency plan. Prior to this, insolvency administrator Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH had succeeded in finding an investor in the proceedings for the insolvent clinic. The creditors’ committee voted in favour of the offer tabled by the Cuxhaven district and, thus, the clinic’s remunicipalisation.

Cloud service provider scanplus has filed an application for the opening of debtor-in-possession insolvency proceedings. The company will be supported in the proceedings by a PLUTA restructuring team under Dr Maximilian Pluta and Mr Stefan Warmuth, also general agents of scanplus GmbH. The Local Court of Ulm ordered the provisional debtor-in-possession proceedings and appointed Professor Dr Martin Hörmann from law firm Anchor Rechtsanwälte as provisional insolvency monitor. He will monitor the proceedings while representing the interests of creditors.

The Local Court of Göppingen ordered provisional insolvency administration for the assets of Emil Bucher GmbH & Co. KG today and appointed Mr Michael Pluta from PLUTA Rechtsanwalts GmbH as provisional administrator. Filing for insolvency became inevitable for the mechanical engineering firm due to liquidity problems. The company’s business operations will continue in Eislingen without any restrictions.

Chief Restructuring Officer (CRO) Mr Marcus Katholing and the PLUTA team have found an investor for the entire C.F. Maier casting division. Effective 1 October 2021, the business operations of C.F. Maier Giesserei Scheeff GmbH & Co KG and C.F. Maier Metallbearbeitung GmbH & Co KG, both based in Nersingen-Straß (68 employees), and of C.F. Maier Leichtgusswerk GmbH & Co KG based in Königsbronn (38 employees) will become part of the sphere of influence of investor Mr Lothar Thoni. All 106 members of staff will be given employment by the investor. The purchase agreements have already been signed. The parties involved have agreed not to disclose any details concerning the purchase price.

The Local Court of Neu-Ulm ordered provisional insolvency administration for the assets of AUGENSTEIN Maschinenbau GmbH, based in Günzburg, and appointed attorney Mr Florian Zistler, of PLUTA Rechtsanwalts GmbH, as provisional administrator on 6 August 2021. Filing for insolvency became inevitable for the well-known mechanical engineering company due to liquidity problems, resulting from a recent drop in orders and sales due to the effects of the coronavirus pandemic.

Provisional insolvency administrator Mr Peter Roeger from PLUTA Rechtsanwalts GmbH is in the process of holding initial talks with parties interested in cleaning company MIR Gebäudereinigung und Dienstleistungen GmbH. The company, based in Schwebheim, Bavaria, filed for insolvency two weeks ago.

Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has found a solution for clinic Krankenhaus Land Hadeln, based in Otterndorf.

Restructuring expert Mr Michael Pluta from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor solution for ZSK GmbH. Following negotiations with several investors, a management buyout (MBO) has now been completed with the establishment of a new company, ZSK Automotive GmbH. A total of 20 jobs have been saved as a result. Insolvency administrator Mr Michael Pluta has been supported during the proceedings by Mr Stefan Warmuth, an attorney, business management expert and tax consultant.

Insolvency administrators Mr Fritz Zanker, an attorney and tax consultant, and Mr Steffen Beck, an attorney for general law and a specialist attorney for insolvency law, from PLUTA Rechtsanwalts GmbH have found a follow-up solution for the RPM Rüster Group from Deggingen. The buyers are two newly established subsidiaries of the Navigator Group, a medium-sized, owner-managed holding company based in Munich. Around 50 employees will be kept on. The purchase agreements have been signed, effective 1 July 2021. The parties involved have agreed not to disclose the purchase price.

Effective 1 June 2021, Wilhelm Rosebrock, a long-standing removal and logistics company based in Bremen, has acquired Louis Neukirch, a logistics company from Stuhr specialising in the transport of new furniture. With the contracts having been signed last Friday, Wilhelm Rosebrock managing director Mr Martin Sommer stated, “We are very pleased that, especially in these challenging coronavirus times, we have been able to ensure that such a long-established company remains in business thanks to our acquisition.”

Insolvency administrator Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH can look back positively on the maintenance of business operations at Schwarze Kiste in Augsburg over the past year. Since the company filed for insolvency, the PLUTA restructuring expert and Mr Florian Zistler have been successful in keeping the hospitality business operational – despite the coronavirus pandemic and the inability to access state supports in the context of the insolvency. The business, which is well known in the region, has been involved in insolvency proceedings since March 2020.

The Local Court of Cuxhaven ordered provisional insolvency proceedings for the assets of Krankenhaus Land Hadeln Otterndorf GmbH today and appointed Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH as provisional administrator. Accordingly, the proceedings conducted under debtor-in-possession management to date will be continued as ordinary insolvency proceedings.

Creditors unanimously approved the insolvency plan for EMT Ingenieurgesellschaft Dipl.-Ing. Hartmut Euer mbH at today’s discussion and voting meeting. The assembly was held at the Weilheim town hall in Upper Bavaria. The drone manufacturer’s restructuring under debtor-in-possession management is therefore almost completed and it will be possible to terminate the proceedings following court confirmation.

Insolvency administrator Mr Michael Wahl from PLUTA Rechtsanwalts GmbH has been able to satisfy all claims of the creditors of Wochenblatt Verlag Ravensburg GmbH & Co. KG. The insolvency court will soon invite lower-ranking creditors to file their claims. After that, the proceedings will be concluded.

An overwhelming majority of creditors (99.92%) has approved the insolvency plan presented by management in the proceedings for GHBV (Gesamthafenbetriebsverein im Lande Bremen e.V.), the personnel service provider for the twin ports of Bremen/Bremerhaven, known as the Ports of Bremen. GHBV chief restructuring officer Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH welcomed this important step in the proceedings: with the creditors’ approval having been secured, the process to restructure GHBV has now been successfully concluded. It will now be possible to terminate the debtor-in-possession proceedings very soon, less than six months after the application was filed in early December 2020.

Now that Paderborn Lippstadt Airport has been successfully restructured on a sustained basis, the Local Court of Paderborn has terminated debtor-in-possession proceedings after just seven months, thus allowing the airport to return to regular business operations on 1 May.

The Local Court of Bielefeld ordered provisional insolvency proceedings to be opened for the assets of BLEYER GmbH & Co. KG, based in Herford, on 12 April 2021. Attorney Mr Frank Schorisch, a restructuring expert from PLUTA Rechtsanwalts GmbH, has been appointed provisional insolvency administrator. The manufacturer of specialist footwear had to file for insolvency due to liquidity problems.

On 1 April 2021, the Local Court of Münster opened insolvency proceedings for the assets of Maschinenfabrik Möllers GmbH from Beckum and appointed restructuring expert Mr Stefan Meyer, an attorney specialising in insolvency law and a managing partner of PLUTA Rechtsanwalts GmbH, as administrator.

On 29 March 2021, the Local Court of Mönchengladbach ordered insolvency proceedings to be opened for the assets of Waldnieler Fruchtsaft GmbH. Attorney Dr Uwe Paul from PLUTA Rechtsanwalts GmbH in Düsseldorf was appointed insolvency administrator. He had already been acting for the company as provisional insolvency administrator with his team since the application for insolvency was filed in January 2021. Schwalmtal-based Waldnieler Fruchtsaft GmbH specialises in processing European fruit to produce fruit juice, fruit juice concentrates and fruit juice flavours.

On 1 April 2021, the Local Court of Münster opened insolvency proceedings for the assets of Maschinenfabrik Möllers GmbH from Beckum and appointed attorney Mr Stefan Meyer as administrator. The restructuring expert from PLUTA Rechtsanwalts GmbH had already been acting for the company with his team, having been appointed provisional administrator when the well-known mechanical engineering firm filed for insolvency in January 2021.

Good news for creditors of W & F Franke Schwerlast Internationale Spedition GmbH from Bremen: insolvency administrator Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has been able to distribute an initial dividend of 52.6%. Approximately 1.87 million euros have been paid out. Dr Kaufmann expects an overall insolvency dividend of at least 80% in the proceedings.

Krankenhaus Land Hadeln Otterndorf GmbH, a clinic serving Otterndorf and the Land Hadeln district, has filed an application for the opening of debtor-in-possession insolvency proceedings. Patient care at the clinic will be fully maintained and continue without change. All courses of treatment and operations will go ahead. The coronavirus pandemic has triggered a liquidity crisis, which the clinic intends to resolve within the framework of debtor-in-possession proceedings. Employee salaries are guaranteed. The proceedings are expected to be concluded within six months at the latest.

Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH is looking for an investor for GST GmbH Global Sweep Technology based in Lastrup, near Oldenburg. The company specialises in the manufacture of sweeping machines designed to clean large areas.

The restructuring of Gesamthafenbetriebsverein im Lande Bremen e. V. (GHBV), the personnel service provider for the twin ports of Bremen/Bremerhaven, has reached a significant milestone: negotiations with employee representatives have been concluded. This is an important prerequisite to restructuring GHBV. Concurrently, the Local Court of Bremen opened debtor-in-possession proceedings on 1 March 2021 and appointed attorney Mr Edgar Grönda from law firm Schultze & Braun as insolvency monitor. He had previously acted as provisional insolvency monitor for the company. Managing director Mr Klaus Rommel and chief restructuring officer Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH are responsible for the restructuring.

Mr Michael Bremen from PLUTA Rechtsanwalts GmbH, the insolvency administrator for Tidal Operations Germany GmbH, in cooperation with Invesco Real Estate, a global property investment manager, and IHG Hotels & Resorts, has found a follow-up solution for the operation of a portfolio of 11 hotels across Germany under the Holiday Inn, Holiday Inn Express and Crowne Plaza brands. Effective 1 March 2021, the Westmont Hospitality Group (Westmont), a leading strategic hotel operator which is active on a global scale, has taken over the running of these hotels. This will strengthen Westmont’s position in the German market. The hotels will remain within the Invesco Real Estate portfolio and will be re-opened as soon as possible. Saving the 296 jobs in the hotels was a key concern when developing this joint solution.

Baldwin Technology GmbH has filed an application for debtor-in-possession insolvency proceedings with the Local Court of Augsburg. The court has ordered provisional insolvency proceedings and appointed attorney Mr Christian Plail from Augsburg-based law firm SGP Schneider Geiwitz as provisional insolvency monitor. The management team of the mechanical engineering company based in Friedberg, Bavaria, will be supported and advised by PLUTA restructuring experts Dr Stephan Laubereau, Mr Georg Stemshorn and Mr Philip Konen.

Dr Christian Kaufmann, insolvency administrator for Diedrich Meyer GmbH & Co. KG, a forwarding company based in Bremen, has found a follow-up solution for the company. Effective 1 March 2021, the restructuring expert from PLUTA Rechtsanwalts GmbH has sold the business by way of an asset deal to B-LOG Bulk GmbH from Brake. This is a joint venture of the well-known L.I.T. Group from Brake and port logistics company J. MÜLLER Weser GmbH & Co. KG from Bremen.

Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has found an investor for Bremen-based software developer bremacon. Effective 1 February 2021, Power PFM GmbH from Düsseldorf has taken over the business operations by way of an asset deal. The parties involved have agreed not to disclose the purchase price. The experts at M&A consultancy GO & Company supported the PLUTA team during the process of finding an investor.

Insolvency administrator Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH has found an investor for Lindenthal Bakery based in Gundelfingen. Effective 1 March 2021, Mr Thomas Helmschrott, a craft baker from Dillingen, will take over the business operations. A total of 18 out of the most recently 26 jobs – including four trainee positions – will be saved as a result. Some of the workers have already found new employment. The parties involved have agreed not to disclose the purchase price.

Good news for creditors of joinery business Der Tischler GmbH: restructuring expert Mr Christian Heim from PLUTA Rechtsanwalts GmbH has been able to distribute an 85.3% dividend.

Insolvency administrator Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has succeeded in finding a follow-up solution for the Lottmann forwarding company. Effective 1 February 2021, Nanno Janssen Spedition GmbH from Emden has acquired the business, including its vehicle fleet, and kept on all 17 employees. The parties involved have agreed not to disclose the purchase price.

Insolvency administrator Mr Ingo Thurm has found a solution for Teccom Pharma GmbH from Sarstedt, near Hanover. The PLUTA restructuring expert sold all of the company’s assets to two investors in early December 2020 in the context of insolvency proceedings. One of the buyers is a regional competitor from Lower Saxony.

The most important milestone has been reached in the restructuring of Paderborn Lippstadt Airport, a one-of-its-kind undertaking in Germany under debtor-in-possession insolvency proceedings. The creditors’ assembly has approved the insolvency plan, under which the airport will continue operating as a fully-fledged airport, albeit with much less staff. The proceedings are being supported by attorney Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH as insolvency monitor.

Maschinenfabrik Möllers GmbH from Beckum has filed for insolvency. On 26 January 2021, the Local Court of Münster appointed attorney Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH as provisional insolvency administrator.

Gesamthafenbetriebsverein im Lande Bremen e.V. (GHBV), the personnel service provider for the twin ports of Bremen/Bremerhaven, known as the Ports of Bremen, has been engaged in debtor-in-possession proceedings since early December 2020. In this context, it has begun talks with employee representatives, who have been presented with the prepared restructuring concept.****

PLUTA restructuring expert Dr Christian Kaufmann is involved in proceedings for another company from the logistics sector, which is currently facing major challenges. On 5 January 2021, the Local Court of Syke ordered provisional insolvency proceedings to be opened for the assets of Louis Neukirch GmbH from Stuhr, near Bremen. Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH was appointed provisional administrator for the long-standing company, which was founded in 1824 and has therefore been in business for almost 200 years.

Business management expert Mr Frank Mößle from PLUTA Rechtsanwalts GmbH, in his capacity as insolvency administrator for ReWa GmbH, die Alltagsbegleitung, has found an investor for the company that provides support for daily living. Nursing service Pflegedienst Westerwald Markus Forneck GmbH has acquired the business effective 1 January 2021.

In spite of the COVID-19 pandemic and difficult conditions, insolvency administrator Mr Peter Roeger from PLUTA Rechtsanwalts GmbH has succeeded in achieving an optimal solution in the proceedings of Stefan Plätzer Maschinenbau GmbH. The majority of jobs have been saved and creditors with security interests will receive the best possible dividend. The integration of the business by way of an asset deal has now been completed. Employees of the Bavarian mechanical engineering company can therefore look positively to the future.

Restructuring expert Mr Peter Roeger from PLUTA Rechtsanwalts GmbH has found an investor for MTA Prototyping GmbH. A newly founded company owned by both Werbik Industries GmbH based in Altdorf bei Nürnberg and a private investor from Rohr has acquired the business operations effective 16 December 2020 by way of an asset deal. The parties involved have already signed the purchase agreement for an undisclosed purchase price. The company’s Nordhalden location will be retained.

The individuals responsible for guiding FAIR Personal + Qualifizierung GmbH & Co. KG (FAIR P&Q) from Ahaus under debtor-in-possession proceedings, namely managing director Ms Angela Frank along with restructuring expert Mr Eric Coordes and his team from corporate law firm Mönig Wirtschaftskanzlei, have now also cleared the final hurdle and led the company successfully out of restructuring. The insolvency plan unanimously approved by the creditors in early December 2020 became legally effective on 20 December after the statutory time limits for lodging an appeal had expired. The insolvency plan was discussed in great depth with insolvency monitor Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH in November 2020 and reviewed by both him and the competent insolvency court.